By IANS
Hyderabad : Aditya Birla Retail Ltd (ABRL), the retail arm of the Aditya Birla Group, plans to invest Rs.80 to Rs.100 billion ($2 to $2.5 billion) to expand its operations across the country.
With a view to emerge as one of the leading retail players, the company announced here Friday that it would open nearly 1,500 supermarket and 100 hypermarket stores across the country.
This includes investments into backend infrastructure to develop a robust supply chain.
The company was looking at all options, including coming out with an initial public offering, to finance its expansion programme, said Sumant Sinha, chief executive officer of ABRL.
The $24 billion corporation, which currently has 400 supermarkets, plans to increase the numbers to 1,000 next year.
ABRL’s retail footprint in south India extended to 275 stores following the acquisition of Trinethra supermarkets last year. Sinha announced the re-branding of the Trinethra supermarkets to More.
More stores will offer a wide range of product categories including fruits and vegetables, staples, personal care, home care, household general merchandise and diary products.